12 U.S.C. § 2
Section 2 · Comptroller of the Currency; appointment; term
Amended 1 time on record
Applied in 9 court decisions — leading case PHH Corp. v. Consumer Financial Protection Bureau (2018)
Most recently applied in Harry Calcutt III v. FDIC (June 2022)
How often courts cite this section
Court decisions citing this, by year.Markers show enactment, consequential amendments, and circuit splits over this section — watch for a citation surge after a change or a disagreement. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
The Comptroller of the Currency shall be appointed by the President, by and with the advice and consent of the Senate, and shall hold his office for a term of five years unless sooner removed by the President, upon reasons to be communicated by him to the Senate.
Editorial notes U.S. Code · Office of the Law Revision Counsel
Codification
R.S. §325 derived from act June 3, 1964, ch. 106, §1, 13 Stat. 99, which was the National Bank Act. See section 38 of this title.
Provisions of this section which prescribed the annual basic compensation of the Comptroller of the Currency were omitted to conform to the provisions of the Executive Schedule. See section 5314 of Title 5, Government Organization and Employees.
Amendments
1935—Act Aug. 23, 1935, struck out “on the recommendation of the Secretary of the Treasury” after “President”, where first appearing, and changed the salary from “$5,000 a year” to “$15,000 a year”.
Repeals
Act Oct. 15, 1949, ch. 695, §4, 63 Stat. 880, formerly cited as a credit to this section, was repealed by Pub. L. 89–554, §8(a), Sept. 6, 1966, 80 Stat. 655.
Exception as to Transfer of Functions
Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, were not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.
Cross References
Appointing power, see Const. Art. II, §2, cl. 2.
Compensation of Comptroller, see section 5314 of Title 5, Government Organization and Employees.